Share Market News: Trump Tariffs, Stocks In Focus, Crude Oil Prices And Other Key Factors Likely To Affect Trade Today

Share Market News: The benchmark indices are expected to start the session on a flat note on July 10. In the early hours of July 10, the Gift City Nifty traded at 25,541.50 down by 32.5 points or 0.13 per cent after opening slightly lower. D-street is expected to factor in several key developments such as the beginning of the Q1 earnings season, fluctuations in key commodity prices and other stock specific developments. Additionally news related to an India-US trade deal and other trade tariff related announcements are also likely to impact the market today. Here’s a look at the factors which are likely to influence how D-street will trade on July 10:

Trump Tariffs

On July 9, Trump sent out another set of letters to seven US trading partners. Trump’s tariff related letters were sent out to the Philippines, Sri Lanka, Brunei, Algeria, Libya, Iraq and Moldova and proposed the imposition of trade tariffs ranging between 20 per cent and 30 per cent. The US President also defended the tariff imposition and said that they were determined using “common sense”.

Crude Oil Prices On July 10

On July 10, crude oil prices continued to ease as West Texas Intermediate price fell to $68.26 per barrel down by $0.06 or 0.09 per cent. On the other hand the price of Brent Crude remained around $70.19.

Gold Rate Today

On July 10 gold rates declined as the price of one gram of 24K purity gold remained around Rs 9,817, the price of one gram of 22K purity gold was around Rs 8,999 and the price of 18K purity gold was Rs 7,363 according to the Goodreturns website.

Stocks In Focus On July 10

Companies such as Tata Consultancy Services (TCS), Tata Elxsi Ltd, Indian Renewable Energy Development Agency (IREDA), Anand Rathi Wealth and Oswal Pumps are expected to release their Q1FY25 earnings today. Here’s a look at some of the stocks which will be in focus on July 10:

HCL Technologies Shares

HCL Technologies shares are likely to be in focus on July 10 after the company informed the exchanges about its partnership with Astemo Cypremos (a subsidiary of Astemo specializing in software and cloud services). The partnership is aimed at developing an autonomous and smart vehicle ecosystem.

Bharti Airtel Share Price

Bharti Airtel share price is expected to be in focus today after the company informed the exchanges that it has incorporated a wholly-owned subsidiary named Airtel Money.

Ambuja Cements

Ambuja Cements informed the exchanges that its subsidiary ACC has commissioned a brownfield grinding unit project with a total capacity of 1.5 million tons per annum (MTPA). The brownfield unit has been commissioned at ACC’s Sindri plant in Jharkhand.

Enviro Infra Engineers

Enviro Infra Engineers announced via an exchange filing that its joint venture with AltoraPro Infrastructure has bagged an order worth Rs 395.5 crore from Maharashtra Industrial Development Corporation.

RailTel Corporation of India

RailTel share price is expected to be in focus today after the company informed the exchanges that it has bagged an order worth Rs 17.5 crore from the General Administration Department (GAD), Chhattisgarh.

Emcure Pharmaceuticals

On July 9, Emcure Pharmaceuticals informed the exchanges that the United States Food and Drug Administration (US FDA) has successfully conducted a pre-approval inspection (PAI) at the company’s oncology manufacturing facility. The inspection was conducted at Emcure’s Ahmedabad facility between June 30 and July 8.

US Markets End In Green

US markets ended on a positive note on July 9 as the Dow Jones Industrial Average finished 217.54 points or 0.49 per cent higher at 44,458.3. On the other hand the Nasdaq finished at 20,611.34 up by 192.87 points or 0.95 per cent. The S&P 500 also closed with gains of 37.74 points or 0.61 per cent at  6,263.26.

Asian Indices Trade Mixed On July 10

Asian markets other than the KOSPI opened lower amid Trump’s tariff announcements. The KOSPI opened with marginal gains and traded higher by 30.25 points or 0.97 per cent at 3,163.99 in the early hours of July 10. On the other hand the Shanghai Composite and the Hang Seng index recovered a little after opening lower and traded higher by up to 0.36 per cent. Japan’s Nikkei 225 continued to trade in the red around the same time, trading lower by 235.48 points or 0.59 per cent at 39,585.8 levels.